Hilton to open first hotel in Myanmar

The Hilton hotel group has announced that it will open its first hotel in Myanmar in 2014 through a partnership with local company LP Holding Co Ltd.

The 300-room luxury hotel will be located in Centerpoint Tower in Yangon, a mixed use commercial property and one of Yangon’s tallest buildings.

“Backed by a strong partner like LP Holding Co Ltd, we are very confident that as the first internationally branded hotel in Yangon, Hilton Yangon will set the benchmark for quality hospitality experiences catering to both domestic and international travelers,” said Andrew Clough, the senior vice president of development, Middle East & Asia Pacific, Hilton Worldwide.

The hotel’s opening will be a welcome addition to the city’s limited supply of hotel rooms.

Myanmar’s tourism industry is currently growing at a rapid 30 per cent per annually. Industry experts forecast up to 2 million tourists yearly by the end of the decade.

The investment interest of Hilton and other hotel groups as expressed during the World Economic Forum in Davos are upscale accommodations, so their increasing presence will probably drive up prices in Yangon at a rate faster than the people’s purchasing power. Hopefully the budget hotel economy sees a similar growth in Myanmar.

Due to a rapid increase in tourism in Myanmar the arrival of the Hilton hotel group will facilitate the accommodation of tourist. However, on a local perspective how will Hilton impact local hotels and businesses?